Deal analysis

News analysis

  • US covered bond amendment welcomed

    16 Dec 2009

    The amendment to proposed legislation governing covered bonds has been welcomed by both Republicans and Democrats

  • Banks endorse HK listing committee’s Rusal stance

    15 Dec 2009

    As Rusal’s proposed IPO in Hong Kong was delayed again last week, those close to the company have endorsed the listing committee’s approach

  • IFLR puts minibond-victims’ concerns to SFC

    14 Dec 2009

    Minibond investors approached IFLR with criticisms of the SFC's approach to prospectuses, mis-selling and enforcement. Here are those complaints, with the SFC's responses

  • Dubai World in quotes

    10 Dec 2009

    From schizophrenic investor presentations to the UAE’s immature insolvency regime, IFLR spoke to the lawyers closest to Dubai World and found out what they really think about the default in the Middle East

  • Eurobonds saved by US tax amendment

    10 Dec 2009

    An amendment to proposed US tax legislation has provided foreign bearer bonds with an exemption to excise tax

  • First US sukuk boosts Islamic finance

    10 Dec 2009

    GE Capital’s $500 million sukuk programme is the first investment grade sukuk by a US corporate and it will increase the appetite amongst US companies for Islamic finance

  • Grandfathering provisions offer US bearer bonds reprieve

    10 Dec 2009

    Concerns that the proposed Foreign Account Tax Compliance Act would severely hamper the ability of US companies to issue bearer bonds have been eased by an amendment

  • How Indian companies are investing overseas

    10 Dec 2009

    As Indian companies begin the second wave of outbound M&A, counsel expect more hybrid deals and earn-out provisions structured within them

  • IPO underwriters exposed by Indonesian regulations

    10 Dec 2009

    Indonesia’s first international initial public offering (IPO) this year has revealed the impact of Bapepam’s new offering regulations on underwriters

  • Why Dubai World should not taint sovereign debt

    10 Dec 2009

    Investors holding sovereign bonds in Asia should not be alarmed by the struggles for recourse in Dubai World’s Nakheel bonds

  • Chinese regulator could prompt more derivatives advice

    04 Dec 2009

    Banks could demand that their corporate counterparties in China seek more advice on trades, after a senior Chinese regulator criticised international banks

  • How Nakheel could test UAE restructuring laws

    04 Dec 2009

    The international investment in Nakheel’s bond will mean UAE legislation and restructuring tools could be used for the first time

  • Nakheel: getting your money back

    04 Dec 2009

    Recourse on Dubai World's Nakheel bonds could depend on what creditors are holding, and the law their lending documentation was structured in

  • Rating agencies to downgrade hybrids

    04 Dec 2009

    Rating agencies are beginning to remove systemic and regional support from the way they assess hybrid securities and subordinated debt. Alongside wider notching, this means likely downgrades

  • The problem with HK’s class actions proposals

    04 Dec 2009

    Banks and companies in Hong Kong could find themselves in a highly litigious environment if they fail to voice concerns over the Law Reform Commission’s proposals on class actions

  • SFC’s Wheatley warns of sovereign debt risk

    02 Dec 2009

    Overpriced sovereign debt could be the next burst bubble, according to Hong Kong’s top regulator, Martin Wheatley

  • The future of Hong Kong

    01 Dec 2009

    The top regulators give their views on how the law, and market products, will develop in Asia

  • The problem with HK's class actions proposals

    01 Dec 2009

    Banks and companies in Hong Kong could find themselves in a highly litigious environment if they fail to voice concerns over the Law Reform Commission's proposals on class actions

  • Europe wholesale market fears retail regulation

    01 Dec 2009

    EU regulation designed to streamline European investor protection documentation could encroach on the wholesale market and limit access to certain investor groups

  • Hong Kong, Singapore fight off Shanghai

    01 Dec 2009

    Counsel in Singapore are concerned that the rise of Shanghai could cause a decline in the number of Chinese companies listing on their exchange. But while other exchanges in the region are trying to attract foreign issuers, Singapore may have fewer options

  • A welcome easing of Talf

    01 Dec 2009

    The Federal Reserve Bank of New York (NY Fed) is considering easing its stance on granting loans through the Term Asset-backed securities Loan Facility (Talf) for commercial mortgage-backed securities (CMBS)

  • Fears on fraudulent Chinese offering documents

    01 Dec 2009

    Counsel in Hong Kong and China are concerned that the quality of disclosure on some Chinese company offering documents is being sacrificed in a bid to catch the latest stock market rally

  • Nakheel: get your money back

    01 Dec 2009

    The position of creditors depends on the bonds they hold, and how local law plays out with hedge funds involved

  • Legislation, quick

    01 Dec 2009

    It's looking good for legislation to provide certainty for US covered bonds. But European banks are also pushing to issue dollar-denomiated versions. The race is on

  • CoCo bonds could be one-off

    01 Dec 2009

    Lloyds's exchange offer was popular with both investors and regulators. But any future deals will have to deal with several areas of legal uncertainty

  • New pools, but new rules

    01 Dec 2009

    As Asia's first exchange-backed dark pool launches, the US and Europe are proposing rules to crack down on them

  • The possible solutions

    01 Dec 2009

    How Indonesian bonds could avoid new tax regulations

  • There's just no one else

    01 Dec 2009

    Why are US mortgage Reits so popular, given that so many failed during the financial crisis? Because there are no banks

  • Case studies in realising value

    01 Dec 2009

    Recent company rescues in the UK and US hold a lot of lessons for lawyers advising on similar deals

  • Hybrids down and banks not up

    01 Dec 2009

    Rating agencies are downgrading hybrids due to the removal of systemic and regional support from their process. And although banks are recovering, upgrades are unlikely

  • Would you take the risk?

    01 Dec 2009

    Chances are New York's amended statute does not invalidate proxy votes. But if you were closing a large merger would you take that chance?

  • Five big pitfalls in Asia

    01 Dec 2009

    Companies are often like a frog in a well: a narrow perspective of the FCPA means they lose sight of local law and hide behind local practices

  • A culture, not a programme

    01 Dec 2009

    The compliance leader, Asean of GE Capital gives his thoughts on creating effective internal compliance

  • How the Finco buy-back worked

    01 Dec 2009

    One way to get around a requirement for 100% approval from lenders for refinancing